Likely GST cut bonanza is going to lift Indian market sentiments
Over
the long weekend, there has been progress on Russia Ukraine long standoff while
Prime Minister Modi vowed to lift domestic economy with possible GST cut.
Investors are watching talks between former US President Donald Trump and
Ukrainian President Volodymyr Zelensky in Washington for signals on market
direction after the recent US-Russia summit ended without new sanctions.
Earlier, the Centre had proposed a twoslab GST structure that could bring
widespread relief to consumers and streamline indirect taxation in a move that
could be the most significant overhaul of the Goods and Services Tax regime
since its rollout in 2017.
The
Centre is considering a major overhaul in the GST structure for automobiles,
proposing a new categorisation based on engine capacity rather than vehicle
type. The GIFT Nifty was trading near 24,900 early on Monday. The futures
contract based on the benchmark Nifty 50 was up 1% at 24,901 in the morning,
indicating a positive start for the Indian market.
Fundamental Update
- Hindustan Oil - Q1FY26 (QoQ) Revenue up 43.5% to Rs
85.5 crore versus Rs 59.6 crore. Ebitda up 86% to Rs 39 crore versus Rs 20.9
crore. Positive
- Patanjali Foods - Q1FY26 (YoY) Revenue up 24% to Rs
8,900 crore versus Rs 7,177 crore. Ebitda down 21.6% to Rs 321 crore versus Rs
410 crore. Negative
- INOX Green Energy - Q1FY26 (YoY) Revenue up 10.5%
to Rs 56.2 crore versus Rs 50.9 crore. Ebitda down 63.8% to Rs 6.1 crore versus
Rs 16.9 crore. Negative
- Glenmark Pharma - Q1FY26 (YoY) Revenue up 0.6%
to Rs 3,264 crore versus Rs 3,244 crore. Ebitda down 1.3% to Rs 581 crore
versus Rs 588 crore. Neutral
- NIFTY – Nifty has managed to halt further
slide and closed marginally up at 24,631 on Thursday. Index is likely to see
surge in the opening session after positive development during long weekend.
Index has support at 24,600 while resistance at 25,000.
- BANKNIFTY – Bank nifty too managed to recover
turf despite global headwinds and closed above 55K to settle at 55,341 on
Thursday. Index has strong support at 55,000 while 56,050 is near term
resistance. Today’s range – 55,200 – 56,450.
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